NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Friday, November 1, 2013

Morgan Stanley (MS:US) said it will invest $1 billion to help improve affordable housing as part of a broader push to encourage investment in efforts that aid economic, social and environmental sustainability.

The bank is also seeking to attract $10 billion of client assets to fund investments designed to provide social benefits in addition to financial returns, New York-based Morgan Stanley said today in an e-mailed statement. Audrey Choi, who leads the bank’s sustainable finance group, will serve as chief executive officer of the newly established Morgan Stanley Institute for Sustainable Investing.